INSUBCONTINENT EXCLUSIVE:
Qatar central bank is exploring the possibility of a Central Bank Digital CurrencyDigital assets are seeing unprecedented growth across the
Not one to be left behind, Qatar is also getting ready to join the digital assets' revolution
The Central Bank of Qatar is attempting to enter the world of digital assets in order to digitise every transaction that occurs in the
An official with the Qatar Central Bank (QCB) said that the bank was now researching digital bank licencing and digital currencies
The study will help the QCB obtain a better knowledge of what its area of focus should be, according to Alanood Abdullah Al Muftah, the head
of the bank's fintech division.QCB will also assess if Qatar may launch a central bank digital currency (CBDC)
A report in the English-language daily, The Peninsula, quoted Al Muftah as saying that the study will look into the various facets and
sectors of fintech, and also examine whether a CBDC is possible for Qatar.She added that in the next few months, the path will become
Right now, the bank is researching the various elements and verticals of fintech and attempting to figure out where they want to go
Over the next few months, there will be a better grasp of QCB's future focus.She further stated that they see the market heading in the
direction of having a digital currency, but added that whether or not they will have a digital currency was still being researched.Dukhan
Bank, a private Qatari bank, was looking into the possibilities of establishing a digital bank in the country
The same report quoted Narayanan Srinivasan, the Chief Operations and Digital Officer at Dukhan Bank, who said that his institution was
Bitcoin are hugely popular, government-backed CBDCs, which are often seen as an antithesis to such cryptocurrencies, have been fast growing
in popularity.A CBDC is a country's fiat currency in digital form and is managed by the country's central bank
As of March 2022, 87 countries were considering issuing a CDBC.
